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5 Things to Know Today: US CPI, BoC Minutes, Oil Below US$90 (Nov. 10)

  Tuesday, November 10, 2026. U.S. inflation data, Bank of Canada minutes and a sharp slide in oil headline your morning. Here is what matters for your wallet. 1. US inflation report lands at 8:30 a.m. ET Economists expect October U.S. consumer prices to rise 0.3% from September, slower than the 0.6% jump the month before, with core prices up 0.2%. There will be no annual rate this time because last year's government shutdown left a gap in the October 2025 data. Strong U.S. jobs numbers on Friday have already pushed the odds of a Fed rate hike on December 9 above 65%. What it means for you: U.S. rate expectations move Canadian bond yields, which set fixed mortgage rates, and they swing the loonie. A hot reading could push yields higher; a cool one could give borrowers a little breathing room. 2. Bank of Canada releases its rate-hike minutes at 1:30 p.m. ET The central bank publishes its summary of deliberations on the October 28 decision, when it raised its policy rate by a qua...
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Tax Planning Resolutions for 2024

 

As the new year approaches, it’s important to consider your financial goals for 2024. One of the most important things to consider is income tax planning. Knowing about newer tax rules and benefits can help you customize a plan that will maximize your money in the year ahead. Here are five tax planning resolutions to consider:

  • Understand your tax rate: Each year, the federal government sets new tax brackets for personal income tax and certain benefit amounts that are indexed for inflation. For the 2024 tax year, Canadians will see an indexation increase of 4.7% to their personal income tax brackets.

  • Contribute to your employer’s RRSP: The biggest investment experts say you can make in your future while optimizing your tax savings is contributing your pre-tax income into an RRSP account. For the 2023 tax year, workers can contribute up to $30,780 in tax-deferred income to an RRSP, according to the CRA. In 2024, the limit will increase to $31,560.

  • Take advantage of home buyer tax perks: Two programs with tax benefits for Canadian home buyers are the First Home Savings Account (FHSA), the First-Time Home Buyer Incentive (FTHIB). There’s also the First-Time Home Buyers’ Tax Credit, sometimes called the Home Buyers’ Amount.

  • Check your eligibility for child care benefits: If you’re a parent (or plan to become one soon), there are several helpful tax benefits to incorporate into your annual financial plan. The Canada Child Benefit is the most notable perk which currently provides parents up to $7,437 per child under the age of six and up to $6,275 for children ages six through 17 in 2023.

  • Maximize self-employment income and benefits: If you run your own business or are self-employed, tax time is ideal for making a plan of attack for the year ahead. Your plan should include a cash flow analysis, including how you’re paid from your business.

I hope this helps! Let me know if you have any other questions.

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